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Maritime IndustryGerman insolvency law vs. worldwide freezing order 1:0
A worldwide freezing order under English law is a legal instrument that allows to freeze a defendant’s assets located across the world, and not limited to just one jurisdiction. In contrast to an arrest, a worldwide freezing order has no effect in rem, but ad personam. It may exert enforcement and good conduct pressure on internationally […]
ArbitrationNo security for costs if annulment of arbitral award is sought by way of counterclaim
Claimants who do not have their habitual residence in an EU or an EEA Member State are obliged, to provide security for legal costs if the other party requests this (§ 110 ZPO -German Code of Civil Procedure). In a recent decision, the German Federal Court ruled whether this also applies if the annulment of […]
